Bitcoin-Seeking Gangsters Hold Cryptocurrency Trader at Gunpoint in His Own Home

Criminals have paid attention to Bitcoin and other cryptocurrencies for some time now. In most cases, they will take the digital route to obtain cryptocurrency through illicit means. Especially when it comes to hacking, fraud, and even scams, there are plenty of opportunities waiting to be explored. For the second time in over a week, however, criminals have attempted to rob people’s Bitcoin at gunpoint. After an incident in Canada, it now seems there’s been a nearly identical development in the UK.

Another Bitcoin-related Robbery

It is never fun to hear that other people have lost their Bitcoin or other cryptocurrencies. When it happens due to computer issues or electronic theft, there is always some hope of potentially reclaiming the funds. When faced with someone holding a gun to your head and demanding your Bitcoin, however, the situation is very different. One major UK trader received the visit of several assailants who forced him to transfer a significant amount of Bitcoin to their account. It is the first time we’ve seen such a situation in the UK, but it won’t be the last time.

This robbery occurred in Oxfordshire earlier this week. An undisclosed number of robbers entered the trader’s home, tied up his wife, and forced the man to give up his Bitcoin balance. It is uncanny how these people were able to identify this person as being a Bitcoin holder, but given the technology’s non-private nature, it’s not difficult to put one and one together. With privacy-oriented currencies, such as Monero, it is impossible to figure out who has what amount of coins unless they wish to make things public.

The robbery quickly attracted the attention of the police, who eagerly deployed a helicopter to track down the suspects. One eyewitness claims she saw four men in black tracksuits, although it is unclear if they were actually involved in this robbery. Moreover, the police have yet to release any official statement regarding this matter, as it is evident this theft attracted a lot of media attention rather quickly. It is important to get the information right before people start to speculate and point blame at innocent bystanders.

As of now, no one is sure how many bitcoins were stolen in this robbery. Considering that criminals physically entered someone’s personal home in search of cryptocurrency, the target must be a rather wealthy individual. Moreover, it seems these criminals are all too aware of what Bitcoin is and how it works. It’s not a currency suited for criminal activity, though, as all transactions can be followed on the public blockchain without specific tools.

The investigation is still in the early stages, but the police are hopeful that they will bring the culprits to justice sooner rather than later. No one has been arrested to date, and it doesn’t appear as if there are any persons of interest at this time. Based on eyewitness reports, the number of assailants was anywhere from three to four, but everyone seems to agree they wore tracksuits and kept their hoods down at all times. Based on that information, half of the UK would be a prime suspect, unfortunately.

The big question is whether or not this brazen attack will set a precedent for other criminals to follow. After all, it is the second time in a week that people have invaded a location in an attempt to steal Bitcoin using a gun. The first attempt took place in Canada, although those assailants had to flee before they could obtain any cryptocurrency. It is unclear how things unfolded in the UK, but rest assured we will see even more of these stories as time progresses.

About The Author

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.